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| 15 May, 2018

UAE's Aldar Properties Q1 profit up 5%

Aldar Properties made a net profit attributable to owners of $182.2mln in the three months ending March 31, 2018

Aldar Properties

Aldar Properties

Aldar Properties handout via Thomson Reuters Zawya

ABU DHABI - Aldar Properties, the largest developer in Abu Dhabi, on Tuesday reported a five percent rise in first quarter profit, beating estimates.

The state-linked builder of Abu Dhabi’s Formula One circuit, made a net profit attributable to owners of 669 million dirhams ($ 182.2 million) in the three months ending March 31, 2018, its financial results showed.

SICO Bahrain and EFG Hermes forecast that Aldar would make a net profit of 593.28 million dirhams and 602.53 million dirhams respectively.

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(Reporting By Stanley Carvalho, editing by Davide Barbuscia) ((stanley.carvalho@thomsonreuters.com; + 9712 6444431; Reuters Messaging: stanley.carvalho.thomsonreuters.com@reuters.net))